New York, July 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fish Powder Global Market Report 2022" - https://www.reportlinker.com/p06284380/?utm_source=GNW
The global fish powder market is expected to grow from $7.2 billion in 2021 to $7.62 billion in 2022 at a compound annual growth rate (CAGR) of 5.9%. The fish powder market is expected to grow to $9.81 billion in 2026 at a CAGR of 6.5%.
The fish powder market consists of sales of fish powder by entities (organization, partnership, sole traders) that refers to the finely ground powder formed from cooked fish flesh. Fish powder prepared from leftover fish can be used to supplement staple foods including maize and cassava, increasing micronutrient concentrations in the meal.
The main types of fish powders are steam dried and flame dried fish powders.Flame dried fish meal is produced using the shortest rotary dryer, known as a direct hot air dryer or flame dryer, which is employed in the manufacturing of about 75% of the world’s fish meal.
The different sources include whole fish, and by-product and is used in swine, poultry, aquaculture, and other applications. The end-users include food and beverages, sports nutrition and dietary supplement, cosmetic and personal care, pharmaceutical, animal feed, and others, and is distributed through business to business (B2B), and business to customer (B2C) sales channels.
Asia Pacific was the largest region in the fish powder market in 2021.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in the fish powder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in the production of functional food is significantly driving the growth of the fish powder market.Functional foods are frequently chosen because they provide numerous health benefits and are healthy.
The fish powder is an important functional food since it provides calcium, antihypertensive proteins, and antioxidants. For instance, according to the Institute of Food Technologists (IFT), a US-based non-profit scientific society, the sales of functional foods and beverages in the United States reached $83 billion in 2021, a 6.8% increase over 2020. Therefore, the increasing production of functional food is expected to drive the growth of the fish powder market going forward.
Technological advancements are shaping the fish powder market.The key players in the fish powder market are indulging in adopting various technological advancements to strengthen their position in the market.
For instance, in January 2022, Cermaq Canada Ltd, a Canada-based salmon farming company adopted aeration technology supplied by Poseidon Ocean Systems. Cermaq Canada has reported that a new aeration technology supplied by Poseidon Ocean Systems has helped them eliminate over 76,000 kg of CO2 emissions from their operations in 2021.
In November 2020, PAI Partners, a France-based private equity firm, acquired a majority stake in Angulas Aguinaga for an undisclosed amount.Through this acquisition, PAI intends to expedite the company’s new strategic business plan, assist in the expansion of product offerings through the launch of new categories, and assist in the company’s commitment to internationalization, with a focus on France and Italy.
Angular Aguinaga is a Spain-based company that produces frozen seafood products including fish powder.
The countries covered in the fish powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284380/?utm_source=GNW
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